Latest news with #AlbionResources
The Australian
21 hours ago
- Business
- The Australian
ALB strikes gold in all 12 initial holes
Albion Resources hits high-grade, near-surface gold in the Yandal Greenstone Belt First assays confirm the presence of a gold system ready for thorough exploration More results from drilling and an ongoing gravity survey pending Special Report: Albion Resources' belief in the prospectivity of the Yandal West project has been validated by assays showing that all first 12 drill holes targeting Collavilla prospect intersected near-surface gold and shares more than doubled to a 3-year high of 16c. Assays for the holes, which had an average depth of about 44m and tested a 100m by 100m area within the 4km by 750m Ives Find prospective granite intrusive, returned results such as: ● 11m grading 20g/t gold from a down-hole depth of 17m including 5m at 38.9g/t in ALBRC006; ● 12m at 1.3g/t Au from 4m including 1m at 6g/t in ALBRC007; and ● 9m at 1.6g/t Au from 11m including 6m at 2.3g/t in ALBRC009. Albion Resources' (ASX:ALB) new geological interpretation suggests that high-grade veins like those intersected in ALBRC006 strongly correlate with thicker bands of mafic greenstone structurally entrained within the Ives Find granite. This indicates that finding additional dense mafic rafts will be critical for future exploration success. The company is also carrying out a detailed gravity survey across the Ives Find granite that targets subtle denser zones – such as mafic rafts or dolerite dykes. Additionally, drilling to follow-up on an historical intersection of 3m at 15g/t Au has been completed with assays pending. 'This is a phenomenal start to our drilling at Collavilla. Every completed hole has intersected gold, including a standout 11m at 20.0g/t from just 17m depth,' chief executive officer Peter Goh said. 'These shallow, high-grade results confirm the presence of a gold system and we've only tested a small portion of the broader Ives Find footprint, which spans 4km by 750m. 'With assays still pending and a detailed gravity survey underway to refine targets, Albion is building strong momentum as we work to understand the scale of this system.' Interpreted cross section showing recent highlight assays results close to surface at Collavilla. Pic: Albion Resources Yandal West Yandal West sits within the Yandal Belt, the remote and underexplored region in Western Australia that nonetheless fuels more than 500,000ozpa of gold production for Northern Star Resources (ASX:NST). Albion recently started its maiden reverse circulation drill program to test the high priority Collavilla, Collavilla East, Collavilla West and Barwidgee Central gold targets with 28 holes totalling 1871m completed to date. Drilling at Collavilla targeted shallow, up-dip extensions of known mineralisation to assess near-surface gold potential, an objective that appears to have been met. Hole ALBRC006 returned the best intercept to date on the western edge of the prospect adjacent to two historical shafts. The quartz vein mineralisation is surrounded by a broader halo of gold mineralisation within the altered granite with gold grades ranging from 0.1g/t to 0.5g/t. Meanwhile, the shallow follow-up holes ALBRC007 and ALBRC009 intersected vein-hosted and halo-style mineralisation near voids left by historical shafts. These results are highly encouraging and have significantly expanded the near surface portion of any possible target zones that may be defined in the future. At the southwestern extension, several holes intersected narrow quartz-sulphide veins and broad hematite-sericite-pyrite altered granite halos while holes in the northern extension intersected some narrow gold-bearing veins and broader intervals of altered granite with modest gold. Next steps ALB is awaiting results of the ongoing gravity survey, which are expected in the coming weeks, to assist in the planning of follow-up drilling at Collavilla and regional prospects to locate concealed gold mineralisation associated with mafic zones. Assays are also pending from the remaining RC holes completed with results expected within two weeks. Phase 1 drilling will resume following a short break with ~1100m of drilling to be completed. Targets will be refined using geological interpretation and upcoming gravity results. These include drilling at Collavilla to test down-dip extensions of significant intersections such as 4m at 6.1g/t gold as well as other targets across the broader Ives Find prospect area, following up on a previous high-grade hit of 4m at 9g/t gold at Barwidgee prospect pending final heritage approvals and exploration drilling at May Queen prospect. This article was developed in collaboration with Albion Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
News.com.au
4 days ago
- Business
- News.com.au
Resources Top 5: Albion Resources skyrockets on 12 for 12 gold hits at Yandal West
Results of up to 11m at 20g/t gold validate ALB's belief in the prospectivity of Yandal West. KFM acquires portfolio of copper-gold, gold and silver-lead-zinc projects in NSW EM surveying reveals multiple conductive plates at the Oval copper-nickel project in Mongolia Your standout small cap resources stocks for Friday, July 25, 2025 Albion Resources (ASX:ALB) Gold hits from all 12 holes of a program targeting the Collavilla prospect at the Yandal West project in WA have seen Albion Resources rocket to a three-year high of 16c, an advance of 132% on the previous close with almost 49m shares changing hands. The shallow RC drilling results of up to 11m grading 20g/t gold from a down-hole depth of 17m including 5m at 38.9g/t gold in hole ALBRC006 validate ALB's belief in the prospectivity of Yandal West. Other strong results were: 12m at 1.3g/t gold from 4m including 1m at 6g/t gold in ALBRC007); and 9m at 1.6g/t gold from 11m including 6m at 2.3g/t gold in ALBRC009. These holes had an average drill depth of about 44m and tested a 100m by 100m area within the Ives Find prospective granite intrusive covering more than 4km by 750m. Additionally, drilling to follow up on a historical intersection of 3m at 15g/t gold has been completed with assays pending. The company's maiden RC drill program is testing the high priority Collavilla, Collavilla East, Collavilla West and Barwidgee Central gold targets with 28 holes totalling 1871m completed to date. 'This is a phenomenal start to our drilling at Collavilla. Every completed hole has intersected gold, including a standout 11m at 20.0g/t from just 17m depth,' chief executive officer Peter Goh said. 'These shallow, high-grade results confirm the presence of a gold system and we've only tested a small portion of the broader Ives Find footprint, which spans 4km by 750m. 'With assays still pending and a detailed gravity survey underway to refine targets, Albion is building strong momentum as we work to understand the scale of this system. 'This quarter is shaping up to be a transformational one with the gravity survey nearing completion and our fully funded RC campaign set to recommence early August.' Yandal West sits within the Yandal Belt, an underexplored region in WA that fuels more than 500,000ozpa of gold production for Northern Star Resources (ASX:NST). Kingfisher Mining (ASX:KFM) The acquisition of a portfolio of copper-gold, gold and silver-lead-zinc projects in prolific mining areas of NSW has seen Kingfisher Mining (ASX:KFM) jump 70.22% to a 2025 high of 8c. The company has entered into a binding agreement with Austin Metals to acquire the early stage to advanced exploration projects in the Broken Hill, Cobar and the Macquarie Arc regions. In the Broken Hill area they include Copper Blow iron oxide copper gold (IOCG) project, Yalcowinna copper-cobalt prospects and the Broken Hill West silver-lead-zinc prospects. Cobar assets include the Tindery gold and base metal project that hosts a cluster of small historical gold workings with limited drilling. In the Macquarie Arc the company will secure the Wellington copper project, where the key asset is the Willunga prospect, 15km from the Boda/Kaiser porphyry-copper deposit of Alkane Resources. Copper Blow, which hosts high-grade copper-gold mineralisation defined by historical drilling over 600 metres of strike, is the most advanced. Historical results include: 16m at 2.67% Cu, 0.62 g/t Au and 4.04 g/t Ag from 133m; 4m at 6.13% Cu, 4.23 g/t Au and 12.93 g/t Ag from 188m; 7m at 3.7% Cu, 1.07 g/t Au and 5.5 g/t Ag from 126m; and 4m at 3.48% Cu, 2.39 g/t Au and 5.9 g/t Ag from 177m. At Broken Hill West multiple silver-lead-zinc prospects are associated with historic mines. Drilling in 2011 at Allendale returned: 10m at 16.1% Pb+Zn and 29 g/t Ag from 15m; 2m at 19.9% Pb+Zn and 39.2 g/t Ag from 47m; and 2m at 13.8% Pb+Zn and 51.1 g/t Ag from 117m KFM said the acquisition represented significant value for Kingfisher shareholders, with total consideration of $200,000 in cash and $200,000 in shares to be issued to Austin. 'This acquisition represents a compelling exploration opportunity with access to a strategic asset portfolio, providing exposure to a pipeline of early stage and advanced, critical and precious metal targets located proximal to a number of world-class deposits in three proven mining districts in NSW, whilst still providing the option value on the Gascoyne rare earth project in Western Australia," non-executive chairman Scott Huffadine said… possibly while breathing through his ears. To fund exploration, KFM is conducting a capital raising of $1.85m through a placement to sophisticated and professional investors at 4c per share and a subsequent non-renounceable entitlement issue to eligible shareholders. Asian Battery Metals (ASX:AZ9) Ground-based EM surveying has revealed multiple conductive plates aligning with known structures at the Oval copper-nickel project in Mongolia, lifting the confidence of Asian Battery Metals ahead of more drilling. There have been 29 conductive plates identified at four distinct areas at just the halfway point of AZ9's SAMSON electromagnetic program. AZ9 MD Gan-Ochir Zunduisuren said the ongoing EM survey had delivered what the company hoped for – multiple shallow, coherent conductors that coincide with existing geological and geophysical datasets. 'These represent some of our most compelling targets to date, and we're excited to test them with drilling over the coming weeks,' he said. 'The SAMSON EM program has been expanded and will now focus on deeper zones and nearby structures similar to the Oval copper-nickel discovery.' AZ9 aims to restart drilling in August, with FLEM and MLEM surveys ongoing until mid-August. (Up on no news) Assays are expected shortly from a first phase of drilling at the Eastern Hills antimony/gold prospect within the Mt Clement project in WA's Ashburton Basin… and Marquee Resources shares have meanwhile increased 67% to a high of 1.5c. Seven RC holes were drilled for 1,346m in a program extended from the original plan as MQR seeks to confirm strike and depth extensions to historical mineralisation and identify new mineralised structures. 'We are highly encouraged by the technical outcomes from our first phase of drilling at Mt Clement,' executive chairman Charles Thomas said. 'Samples from the completed drilling have been submitted to ALS Laboratories for analysis and the results will be instrumental in refining our targets for the fully permitted phase 2 drilling program.' The company has received a A$469,095 cash rebate from the Federal Government's R&D Tax Incentive program in respect of eligible research and development expenditure for the year ended June 30, 2024. Diablo Resources (ASX:DBO) (Up on no news) With copper in its sights at the Phoenix project along strike from a producing mine in Utah, Diablo Resources increased 33.33% to 2c. Earlier in July the company completed a placement to professional, experienced and sophisticated investors raising $396,000 before costs. The placement at 1.2c per share included one free attaching option for every two new shares. The options, which are subject to shareholder approval, will be exercisable at 2.4c each expiring three years from the date of issue. Funds will support RC drilling at Phoenix, along strike from the producing 276Mlb Lisbon Valley copper mine. The approved drill program will begin as soon as practicable and target the Trenton and Philadelphia prospects. Sampling at Trenton along ~1.8km averaged 2.79% Cu and ranged from 0.28% to 8.21% Cu while at Philadelphia sampling over 750m averaged 6.29% Cu and ranged from 0.5% Cu to 45.7% Cu and 219 g/t silver. This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. At Stockhead we tell it like it is. While Albion Resources and Asian Battery Metals are Stockhead advertisers, they did not sponsor this article.
Yahoo
09-07-2025
- Business
- Yahoo
Albion Resources Insiders May Regret Not Buying More, Market Cap Hits AU$8.4m
Insiders who bought Albion Resources Limited (ASX:ALB) stock in the last 12 months were richly rewarded last week. The company's market value increased by AU$1.6m as a result of the stock's 23% gain over the same period. Put another way, the original AU$238.8k acquisition is now worth AU$339.7k. Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. In the last twelve months, the biggest single purchase by an insider was when Independent Non-Executive Chairman Steven Formica bought AU$131k worth of shares at a price of AU$0.045 per share. Even though the purchase was made at a significantly lower price than the recent price (AU$0.064), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive. Albion Resources insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! View our latest analysis for Albion Resources Albion Resources is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. It appears that Albion Resources insiders own 22% of the company, worth about AU$1.9m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment. There haven't been any insider transactions in the last three months -- that doesn't mean much. On a brighter note, the transactions over the last year are encouraging. Insiders do have a stake in Albion Resources and their transactions don't cause us concern. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. In terms of investment risks, we've identified 4 warning signs with Albion Resources and understanding these should be part of your investment process. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
26-06-2025
- Business
- News.com.au
Resources Top 5: Trigg has eyes fixed on US critical minerals initiatives
Steps are being taken to align Antimony Canyon with US national security and federal procurement priorities Brightstar has declared maiden reserves of 24,000oz for the Second Fortune and Fish underground mines Albion Resources has started RC drilling at the Yandal West gold project Your standout small cap resources stocks for Thursday, June 24, 2025 Trigg Minerals (ASX:TMG) One of a number of ASX-listed juniors with eyes firmly on the critical minerals domestic supply chain initiatives of US President Trump is Trigg Minerals and its Antimony Canyon project in Utah. The company is taking steps to align Antimony Canyon with US national security and federal procurement priorities and has launched initiatives aimed at achieving near-term pilot-scale antimony mining. This has resulted in added interest among investors with Trigg hitting a three-year high of 10.5c, an increase of 26.51% on the June 25 close, and closing at 9.8c. Reflecting the growing interest, more than 101m shares changed hands valued at almost $10 million. The increased US focus has been supported by the appointment of key US-based executives, including Ben Harris and Wiehann Kleynhans. Harris will serve as US Defense and Armaments advisor to support Trigg's strategy to become a secure, domestic supplier of antimony. With more than 35 years' experience in the US defence and government sectors, Harris will advise Trigg on strategic alignment with America's defence supply chains and procurement frameworks. Harris recently served as chief of staff for the Joint Program Executive Office Armaments and Ammunition, overseeing operations for a US$3 billion annual program, spanning procurement, R&D, testing and training for conventional ammunition and armaments. His prior appointment was as deputy for Project Director Joint Services, where he led government-operated ammunition infrastructure and demilitarisation programs across logistics, demilitarisation and singlepoint-of-failure mitigation. Harris will assist Trigg in engaging with US Department of Defense stakeholders, navigating defence procurement frameworks and supporting efforts to position Antimony Canyon as a critical domestic source of antimony for US defence applications. 'Ben's appointment is a major step forward for Trigg as we advance our strategic focus on becoming a key domestic supplier of antimony for US Defense and critical infrastructure,' managing director Andre Booyzen said 'His deep expertise in defence procurement, ammunition lifecycle management and federal coordination will be invaluable, and it aligns perfectly with our vision of delivering secure, conflict-free antimony to the US market.' This appointment follows that of highly experienced antimony downstream expert Wiehann Kleynhans as vice president, US downstream operations, to bolster TMG's antimony capabilities. Kleynhans will develop a strategy for North America, which will include options for downstream processing, form partnerships with key industry and government players in North America as well as identify and negotiate possible offtake agreements with international antimony traders. He will also assist the company with obtaining US government funding for exploration and development while assisting with due diligence on future antimony projects. These appointments follow the start of exploration and early-stage development at Antimony Canyon, which hosts the largest and highest-grade antimony deposit in the US. They also build on Trigg Minerals (ASX:TMG) recent engagement with US federal funding pathways as it aims to advance studies for near-term antimony extraction. Widespread antimony mineralisation was recently confirmed in areas previously untested by historical resource work while TMG also confirmed that mineralisation occurs throughout the vertical profile of the Flagstaff Formation, increasing the potential scale of the tenure. Brightstar Resources (ASX:BTR) Declaration of ore reserves is a key step toward development for a resources company as it represents ore that can be mined as opposed to resources which need further exploration, drilling and assessment to increase confidence. Brightstar Resources' maiden reserves of 24,000oz for the Second Fortune and Fish underground mines provides further gold to underpin the Laverton Hub ore purchase agreement with Genesis Minerals during FY2026. The establishment of maiden reserves of 52,000t grading 3.36g/t gold for 6000oz at Second Fortune and 175,000t at 3.23g/t for 18,000oz at Fish follows a recent upgrade to resources for both mines and saw BTR shares as much as 7.45% higher to 50.5c before closing at 49c. Second Fortune has a resource of 40,000oz at 13.4g/t while Fish has a resource of 49,000oz at 4g/t. Higher confidence measured and indicated resources make up a tidy 68% of the material at both mines. This contributes to Brightstar Resources' (ASX:BTR) belief that there is significant potential to increase ore reserves and mine life at the two mines by carrying out more surface and underground drilling, which is due to start imminently. Under the Laverton agreement, the company can deliver, sell and process up to 500,000t of ore to Genesis Minerals' (ASX:GMD) Laverton mill over 2025 and Q1 2026. Mining is continuing at Second Fortune and Fish with first ore from Fish expected within the next week to generate significant revenue in the September 2025 quarter. Managing director Alex Rovira said the maiden ore reserves for the two mines underpinned the FY2026 production target under the ore purchase agreement. 'It's important to note that these two ore bodies are open at depth and along strike, and to date have lacked deeper drilling to convert known mineralised intercepts into mineral resources and potential ore reserves,' he added. 'Second Fortune has operated consistently over four years, highlighting the reliability of the gold mineralisation which shows continuity at depth with wide-spaced drilling.' Besides the imminent start of drilling at Second Fortune and Fish as well as the start of ore mining at Fish, BTR also expects a material increase in overall group ore reserves shortly. This will be accompanied by the finalisation and release of a definitive feasibility study which outlines the development and expansion of Brightstar's production across the Menzies and Laverton hubs. Albion Resources (ASX:ALB) The start of RC drilling at the Yandal West gold project in WA's highly prospective Yandal Greenstone Belt has seen Albion Resources post a 7.55% increase to 5.7c. A program of 3000-4000m is targeting high-priority targets and will be followed by an aircore drilling program next month targeting the Barwidgee Fault, a major regional structure with limited previous drilling but strong gold potential. RC drilling targets include historical gold workings at Collavilla, which previously returned up to 3m at 52.38g/t gold and 7m at 7.4g/t. Drilling will also target Collavilla East, Barwidgee Central and Collavilla West – which contain some strong chargeability anomalies and visible quartz veins. Yandal West is just up the road from Northern Star Resources' (ASX:NST) Bronzewing gold mine and the Jundee gold mine, in a multi-million ounce district producing around 300,000oz per annum. The Bronzewing project was sold by Strickland Metals to Northern Star, providing feed for its processing plant. Albion is targeting a similar future, confident that being close to mills offers some value for small-scale deposits. That's not to say a large discovery isn't on the cards with the company pointing out that the Yandal West project remains relatively underexplored despite its prime position. Locksley Resources (ASX:LKY) Another company growing its position in the US is Locksley Resources, which in its latest move has completed its listing on the OTCQB Venture Market under the ticker symbol LKYRF. This listing will enable Locksley to broaden its exposure to North American investors, providing enhanced access to a deeper pool of capital and aligning the company more closely with its flagship Mojave Project in California. Locksley, which retains its listing on the ASX with the ticker LKY, reached a daily high of 8.9c, a lift of 53.45% on the previous close, before ending the trading day at 8.8c. The OTCQB listing is part of a broader strategy to advance Locksley's critical minerals focus within a US jurisdiction which is increasingly prioritising domestic rare earth and antimony supply chains. This platform offers improved liquidity and transparency for US-based investors and allows Locksley shares to be traded in US dollars during US market hours. This milestone coincides with accelerating engagement in the US around downstream processing, strategic partnerships and funding pathways tied to critical mineral development. "The successful listing on the OTCQB represents a major step forward in our US engagement strategy,' Locksley Resources chairman Nathan Lude said. 'With our Mojave Project located in California and aligned with US critical minerals priorities, this listing allows us to broaden our investor base and improve visibility in a market where our assets hold strategic relevance. 'We look forward to building relationships with US institutional and retail investors while continuing to deliver progress on the ground." Superior Resources (ASX:SPQ) (Up on no news) Brisbane-based Superior Resources is focusing its efforts on its home state of Queensland with projects in the state's Greenvale Ordovician porphyry belt and nickel-copper-PGE province in the north and the Carpentaria Zinc Province in the northwest. Most work is being carried out on the Steam Engine gold project within the Greenvale project around 210km west-northwest of Townsville. Activities have focused on expediting the Steam Engine regulatory and mining study pathways to achieve production within two years. The company continues to progress a feasibility study on Steam Engine, which has a mineral resource of 196,000oz at 1.5 g/t gold, with the study based on a toll treatment operation. This resource is being revised and updated with assay results from 31 RC holes for a total of 2,218m completed in the March quarter expected to be included. New zones of gold mineralisation were identified at the northern ends of the Steam Engine and Eastern Ridge lodes while a maiden drilling program at Windmill East, 2.5km south of the Eastern Ridge Lode, identified high-grade gold lode mineralisation. Further drilling is planned to test highly anomalous features resembling previously unknown gold lodes, including a potential extension of the main Steam Engine Lode. Although it has had no recent news, the company was 66.67% higher at 0.5c.
News.com.au
18-05-2025
- Business
- News.com.au
Albion could host WA's next big gold play CEO Peter Goh says
Albion's new CEO Peter Goh is hunting for the next discovery in WA's Yandal gold province Yandal West project has the right geology in the right region with three mills nearby Company is confidence of project's potential considering current gold prices Albion Resources has a new CEO at the helm as it looks to unearth a major greenfields discovery in WA's Yandal gold province. The company holds the Yandal West project, which sits around 55km north of Northern Star Resources' (ASX:NST) Bronzewing gold mine and 60km south of its Jundee gold mine, a multi-million ounce district producing around 300,000ozpa. The region is, however, remote and remains underexplored as underlined by the success of neighbour Yandal Resources (ASX:YRL), which drew serious investor interest last year with the Siona gold discovery 20km southeast of Yandal West – 107m at 1g/t Au from 96m to end of hole. For new CEO Peter Goh, these are just some of the many X-factors that drew him to the role with Albion Resources (ASX:ALB). 'It's in the world class Yandal greenstone belt, and within 60km of us there's three processing plants, which was a huge strategic advantage and tick for me when I was doing my due diligence,' Goh said. 'Not only is this a big tick of approval for resource endowment in the area, with big players nearby, geologically we know there's gold mineralisation on the tenements, there's been historical drilling there, there's been historical mining there back in the 1900s and it's significantly underexplored. 'We think we can apply new exploration techniques and that will offer a really good opportunity in this rising gold market.' Gold bull market Coming from a background as a chartered accountant and an analyst building financial models with IPM Global before a stint in business development with Iluka Resources (ASX:ILU), Goh brings a wealth of knowledge and passion about junior resources and small caps to the company. With this background in financial analysis, when Goh says the company's finances are strong, he knows what he's on about. 'They've got $4m in the bank, a tight capital structure with only 132m shares on issue, and it has strong support from the top 20 shareholders, who have about 57% of the register,' Goh said. 'So with the geology and the finances, we have all the right ingredients to have some success here. 'When that opportunity came across my desk it was an easy decision to make the move over from the very structured role with Iluka into this small cap space, and I'm really excited about it.' That's a strong launching pad for a junior in the current gold market, with prices riding high at close to A$5000/oz. Don't need 1Moz to create value Goh notes that the landscape for gold exploration has shifted in the last few years, where historically juniors needed to demonstrate a pathway to 1Moz before really being taken seriously by the market and majors. Now some outperformers boast far smaller resources, which are cash printing machines with US dollar prices of around US$3150/oz. 'To the north of us is Strickland Metals (ASX:STK) who pulled up a 350,000oz deposit and they sold that to Northern Star (ASX:NST) for $61m in 2023,' Goh said. 'That's not a 1Moz deposit that's 350,000oz close to the Jundee mine. 'So that highlights that if processing plants are hungry, being close strategically offers some value for small scale deposits. 'We haven't started drilling and I don't want to get ahead of myself here, but you don't need that 1Moz mark to add value.' Goh also flagged new director Chris Tuckwell, who came along with the Yandal West acquisition, is another feather in the company's cap. 'That's a huge win for us,' he said. 'He has 11 years' experience with MACA, the mining contractor, so if we do have some success here, and obviously we've got to walk before we can run, but he will be invaluable to me and to the company as we try to unlock value for shareholders.' Earlier this month, the company announced two promising drill targets identified via a dipole induced polarisation survey which have never been touched by the drill bit and are expected to be encountered at shallow depths. Albion is just waiting on soil samples to come through, with heritage surveys underway and plans drill these promising new targets as part of its maiden campaign in June.
